Deciding How Long to List Your Home

Are you considering hiring an agent to help you with getting your home sold? If so, there are many things you will need to take into consideration when negotiating the services you would like the agent to provide. One of these is how long you want your home to be listed. Remember, it is up to you to determine the listing length of your home. Therefore, it is important for you to have an idea of the pros and cons of various listing lengths so you can determine which length is best for you.

The 30 Day Listing

If your home is in a hot market where most other properties are selling in less than 30 days, a 30-day listing may be your best option. This way, if your agent fails to sell the home within those 30 days, you can hire the services of another agent who can get the job done more quickly. Before giving your agent the boot, however, you should take a closer look at your property and what you are asking for it. It is possible that you are asking for more than the property is actually worth, which could be the reason why it has failed to sell in such a short time period.

The 90 Day Listing

The 90 day listing is one of the most common in the housing market. Nonetheless, you should have a pretty good idea of whether or not the property is priced right within the first 30 days. With a 90 day listing, however, you can get an idea of whether or not your property is priced right and then you can work with your agent to determine what changes might need to be made in order to make your home more desirable to potential buyers.

The 180 Day Listing

The 180 day listing makes more sense when dealing with a buyer’s market, such as what most markets are currently facing. If you go with a 90 day listing within a buyer’s market, the listing might expire while it is still in escrow. If this happens, you may need to extend the listing anyway. Therefore, it is often easier to simply start off with a 180 day listing when in a buyer’s market. When agreeing to a 180 day listing, however, it is a good idea to ask the agent to provide you with a written guarantee that you can cancel the listing after 90 days if you are not happy with the service. If the agent refuses to provide a guarantee, you are better off hiring someone who will.

The One Year Listing

If you live in a more remote area or in a market where homes move slowly, a one year listing contract may be your best option. The same is true if you are selling an unusually large or unique property, vacation homes and private islands as these homes tend to take longer to sell because there are less potential buyers for these homes.

About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
http://www.electronicappraiser.com.

Does Your Home Have a Bad Layout?

When it comes to appraising the value of your home, one thing that many appraisers do not take into consideration is the layout of the home. Although the layout may not be factored in when valuing the home, it is certainly a factor that potential buyers will consider when deciding whether or not they want to make a purchase. Unfortunately, there are many bad layout designs that can decrease your chances of selling your home. Here's a look at some of the most common layouts that potential buyers find unattractive.

A Stairway or Hallway that Faces the Entrance

In some homes, you are immediately greeted by a stairway when you enter the home. This can have a negative impact on the first impression a person has when entering the home. The same is true when the entrance leads immediately into a long or dark hallway. Remember, buyers generally make their first impression of a home within 6 seconds after entering, so you want to make certain this first impression is a good one.

The Center Dining Room

Having a dining room in the center of the home is also a turn-off to many buyers, as it requires walking through the dining room and around the table in order to enter most other rooms. This layout is considered inconvenient by most people because it does not provide easy access to the other rooms in the house.

Bedrooms That are Connected

Connected bedrooms can be unattractive to buyers because of the lack of privacy it creates. In fact, in some parts of the country, an appraiser will consider adjoining bedrooms to be just one room.

Bedrooms Accessed through the Dining Room or Living Room

Many people do not care for a home with bedrooms that have to be accessed through the dining room or living room because this also reduces privacy. In addition, a bedroom that is connected to a dining room or living room will be more susceptible to being disturbed by the activity that takes place in these rooms.

Oddly Placed Guest Bathrooms

The location of the guest bathroom can also be a turn-off to potential buyers. In some older homes, for example, a long hallway may end with a bathroom, which provides for an unattractive and uninviting view down the hallway. Similarly, most potential buyers will not care for a bathroom that can only be accessed after walking through a bedroom or a utility room either.

Lack of a Good View

Homes seem to be larger when you can sit in one room and see other rooms. Therefore, open space and doorways will help create this feeling of spaciousness, which will appeal to a larger number of potential buyers.



About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
http://www.electronicappraiser.com.

Top 5 Ways to Turn Off Potential Homebuyers

If you are trying to sell your home, its appraised value is irrelevant if you no one is interested in your home. For that reason, it is important for you to take steps to make your home as attractive to potential buyers as possible. But, did you know that there are certain things you can do with your home that will actually make them not want to buy it? Here is a look at the top 5 ways to lose out on a sell.

Unappealing Smells

One of the first things a potential buyer will notice when stepping into your home is the way it smells. Pet smells and cigarette odors are the top two turn-offs, but potential buyers will also be turned away if they smell mildew, old food smells or other odors. Therefore, be certain to do everything you can to make the home smell fresh and clean. Keep in mind that it is easy to become used to the smells in your own home, so ask someone with a fresh sniffer to smell the inside of your home and give you some feedback on how it smells.

Lack of Lighting

Lighting is essential when it comes to making a room feel warm and inviting. In addition, proper lighting will help make the space look larger and more appealing. Therefore, you should be certain to replace any dim light fixtures while also removing heavy drapes and cutting tree limbs that may be shadowing your house. You may even want to consider installing additional light fixtures or skylights in order to increase the amount of light entering your home. Cleaning your windows and repainting your rooms with a color that reflects light will also help make the inside of your home appear brighter.

Overgrown Gutters

Gutters with plants growing inside are a big turn off to potential buyers, as they will view this as a job they will have to tend to right away. In addition, it makes it look as if the home is not properly cared for and maintained. So, be certain to clean your gutters before putting your home on the market.

Excessive Dampness

Dampness in the basement is a major concern for buyers, as it is a sign that there is a leak in the foundation. While this isn’t necessarily the cause of your dampness, just the potential of a leaky foundation is enough to turn most homebuyers away. If you are getting moisture in your basement, look for other potential causes and try to rectify the situation. Some places to look include underground drains that may be clogged, a lack of rain gutters along the roofline or downspouts that are facing the wrong way.

Scummy Bathrooms

No matter where it is found, dirt is a major turn off to potential buyers. Nonetheless, you should pay particular attention to your bathroom. Having a bathroom that is bright and shiny is a sign that you take great care of your home, so repaint it, purchase a new curtain and scrub it down in order to make it look as good as you possibly can.


About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
http://www.electronicappraiser.com.

Increasing the Curb Appeal of Your Home

When it comes to increasing the value of your home, you may not need to look as far as you thought. In fact, making a few simple changes can potentially increase your home's value while also helping you get it sold more quickly. So, what is the secret? The answer is curb appeal.

What is Curb Appeal?

Put simply, the curb appeal of a home is a measure of its attractiveness when viewing the property from the road. In other words, it refers to the first impression your buyer is likely to get. In order to determine your home's level of curb appeal, you should ask yourself whether or not your home looks appealing as you pass it on the road or as you pull up in your driveway. If your home lacks curb appeal, you will lose out on many potential buyers before they even come inside your home. Therefore, no matter how attractive your home looks from the road, you should do everything you can to make it look even more appealing before you put it on the market.

How Can I Increase Curb Appeal?

In order to increase the curb appeal of your home, you should first identify the most attractive exterior features of your home and then find ways to enhance them. Sometimes, simply adding a little edging or weeding away the vegetation growing between the bricks in your walkway can go a long way toward improving your curb appeal. Other inexpensive ways to improve your curb appeal include:

Removing any mold or mildew growing on your driveway, house or sidewalks
Clean your windows, gutters, siding, decks and patios
Put away items so your lawn is free of clutter
Rake your leaves, mow your lawn and get rid of the weeds growing in your yard
Trim trees and pushes so they are neat and attractive

You might also need to repaint the outside of your home, add some new landscaping, replace your door or complete a few other changes that will require spending a little money. Nonetheless, the investment will likely be minimal, while the rewards can be fantastic.

Is There Anything Else to Keep in Mind?

While making your house look more attractive from the main road during the day is certainly of very high importance, you should also consider how your property appears at night as well as from other vantage points. For example, can your backyard be viewed from another road? If so, you should make an extra effort to make this part of your property look attractive from the road as well. Similarly, it is a good idea to enhance the curb appeal of your home at night, as you never know when a potential buyer will pass by. Simple additions such as placing lighting along your driveway, adding a decorative street lamp or other lighting around your doorways and windows will help make your home more attractive both day and night.


About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
http://www.electronicappraiser.com.

The Ins and Outs of FHA Loans

If you are interested in purchasing a home, you will find that there are many different financing options available to you. Depending upon your personal financial situation, one of the options you will want to explore is the FHA loan. This loan option has been available for over 60 years and, during that time, has made it possible for literally thousands of people to become proud homeowners.

The Benefits of FHA Loans

There are numerous benefits associated with FHA loans. For instance, if you have less than perfect credit, you may be able to get approval for an FHA loan even if you have been turned down for a conventional loan. Even if you have had financial difficulties and have had to file for bankruptcy, you can still obtain an FHA loan just two or three years after filing if you have maintained good credit since that time. In addition, if you have had to foreclose on a mortgage loan in the past, you can still qualify for an FHA loan just two to three years after your foreclosure if you keep your credit in excellent shape afterward.

In addition to the benefits associated with your credit rating, there are several other benefits you can enjoy when obtaining an FHA loan. For example, there generally is no adjustment made to the interest rate. If an adjustment is made, it generally varies by only about .125 percent from a conventional loan.

Another benefit to obtaining an FHA loan is the fact that the mortgage insurance is paid through the loan. This results in a premium of 1.5% that is added to the balance of the loan rather than having to be paid out of pocket. A small amount is also added to the monthly payment for the mortgage insurance premium, but this is generally lower than the cost associated with private mortgage insurance premiums.

Meeting FHA Loan Requirements

Although there are many benefits associated with acquiring an FHA loan, there are many requirements associated with the loan as well. For example, the home will have to pass through an inspection before it can be purchased with an FHA loan. Although the requirements have become less stringent over the years, the home must still meet certain qualifications in order to be purchased with an FHA loan. For example, a defective roof with a leak needs to be repaired, but an older roof does not automatically need to be replaced if it does not leak.

Although the home need to pass through an FHA inspection in order to qualify for the loan, it is important to note that this inspection is not meant to replace the traditional home inspection. Rather, you should obtain a professional home inspection in addition to the FHA inspection in order to make certain you are getting involved with a good deal.

About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
http://www.electronicappraiser.com.

Home Equity Loan or Credit Card - Which is the Better Option?

Are you considering taking out a little extra money to make some home improvements? Or, perhaps you need some cash to help pay for someone's college or for some other important financial venture. Regardless of your reasons, you have two major options available for getting the money you need: you can take out a home equity loan or you can use a credit card. In order to determine which of these two options is best for you, there are many things you should take into consideration.

The Pros and Cons of an Equity Loan

When it comes to a home equity loan, there are many pros and cons for you to consider. Perhaps the biggest benefit to obtaining a home equity loan is the fact that the interest rate on home equity loans is generally much lower than the interest rate on credit cards. Therefore, depending upon the amount you borrow, how long it takes to pay back and the difference in the interest rates, you could potentially save hundreds or even thousands of dollars when you choose a home equity loan over using a credit card.

Perhaps the biggest disadvantage to obtaining a home equity loan rather than using a credit card is the fact that your home is put up for collateral. Essentially, taking out a home equity loan equates to taking out a second mortgage, which means your home can be foreclosed upon if you fail to repay your equity loan in the agreed upon manner. With a credit card, on the other hand, there is no collateral on the loan. While you still risk ruining your credit rating if you fail to pay the loan back properly, you significantly reduce your risks of losing your personal belongings when you use a credit card to obtain the funds you need.

The Pros and Cons of Using a Credit Card

The biggest con against using a credit card in order to give yourself a major loan is the fact that credit cards tend to have a high interest rate. If you take advantage of special promotional offers and if you plan your repayment schedule effectively, however, you can potentially enjoy a lower interest rate when you use your credit card.

Another perk to using a credit card rather than a home equity loan is the fact that you do not have to deal with the paperwork involved with getting a home equity loan. As such, you can obtain the funds much more quickly if you use a credit card that you already have. In addition, you don't have to worry about paying to get your home appraised or other costs that are involved with getting a home equity loan. At the same time, it is important to note that there may be extra fees associated with obtaining funds through your credit card as well, so be certain to learn more about all of the fees involved before you borrow cash from your plastic.


About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
http://www.electronicappraiser.com.

What You Need to Know About Your Home's Appraisal

If you are planning to sell your home or if you wish to apply for a home equity loan, getting your home appraised is a critical step in the process. By determining the value of your home, lenders can better determine how much they are willing to loan to you for an equity loan or home much they are willing to lend to a potential buyer. Nonetheless, many homeowners know little about the appraisal process or what it entails. While you certainly aren't expected to be an expert in home appraisal, it is good to know a few basics before you hire someone to provide a professional appraisal of your home.

Understanding the Appraisal Report

After the appraiser has walked through your home and made all of the necessary assessments, he or she will create an appraisal report. Generally, these reports are about two to three pages long, though it is possible or an appraisal to be more than a hundred pages long as well. Information that is typically included in these reports include:

Details about your home
A description of your neighborhood
Side-by-side comparison information of your home and other similar properties
An evaluation of the real estate market in the area
Information regarding any major problems with the property

By using all of this information, the appraiser is then able to provide an estimated value of the property as well as an estimate of how long it will take to sell the property.

Developing the Appraisal Report

In order to develop the appraisal report, the appraiser will primarily compare your home to the amount that similar homes have recently sold for. It is important to keep in mind that an appraisal is not the same as a home inspection, which is intended to determine whether or no the home is structurally sound. Rather, the appraiser is simply looking to identify any distinguishing characteristics of your home that can help select other recently sold homes that can serve as a point of comparison.

Obtaining an Appraisal Report

If you have recently purchased a home, you can obtain a copy of the appraisal report from your lender. Whether you realized it or not, you paid for an appraisal when you purchased your home and federal law gives you the right to obtain a copy of that report. If you purchased your home more than a year ago, however, you probably should obtain a new appraisal report in order to properly reflect changes in the market as well as any changes you may have made to the home.

Using Your Appraisal Report

Once you receive your appraisal report, you can use it to help improve the value of your home. Focus on any items that gave your home's value a negative adjustment and make any necessary updates or changes. This way, you can increase the value of your home and sell it at a higher price or receive a larger home equity loan if necessary.

About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
http://www.electronicappraiser.com.

How is Your Home’s Value Appraised?

When it comes to appraising the value of your home, you might be surprised by the vast difference in value of your home when compared to one that is nearby. In fact, in some cases, the appraised value of homes located right across the street can be much higher or much lower than the appraised value of your home. Why is there such a discrepancy in these values? The answer is simple: market value.

Calculating Market Value

In order to determine a market value, appraisers must crunch a variety of different numbers. Obviously, it is impossible to determine the true 100% market value of a home because every house across the nation is not put up for sale each year. Therefore, appraisers have to piece together a variety of information in order to determine the value of your home. This includes looking at the average percent change in value for homes in the neighborhood, which is based on sales information that is available. This information is then used to help determine of a home’s value.

If there is no recent sales information available for the neighborhood, the appraiser may look at similar homes in different communities instead. By looking at homes of similar size and with similar amenities, an appraiser can get a good idea of the value of the home. Nonetheless, the differences in neighborhoods needs to be taken into account, as some neighborhoods are simply more desirable to potential buyers than others. For example, a home located on a golf course is certainly going to have higher appraised value than one that is not, if all other attributes are similar.

Considering Special Circumstances

Of course, there are special circumstances about homes that can make their actual value different from others in the same market. For instance, if your home is located in a part of the neighborhood that is near a highway, your value will likely go down because of the noise and distraction of the highway. On the other hand, a home that is located on a corner lot or near to a park may have a higher appraised value because of the added land or convenience it brings to the homeowner.

Determining the value of a home in a neighborhood where the houses are of varying sizes can also be difficult. In some areas, where each home is of similar in size age and attributes, finding comparable sold homes is easy and appraisals are generally quite accurate. In the neighborhoods where this is not the case, however, the value of one home can be much less or much more than the value of the home located next door.

In order to get an accurate appraisal, a variety of factors need to be taken into consideration. In addition, it is important to remember that an appraisal is not a guarantee of the amount of money you can expect to get for your home. Rather, it is a good starting point for you to use when determining how much you would like to receive when selling your home.
Appraising is an “art”, not a “science”. If you hire two different appraisers to value your home, you most likely will get two different values.


About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of home appraisals that offers a nationwide personalized instant informational report about house values. For more information, please visit www.electronicappraiser.com .

Should You Invest in a Swimming Pool?

When it comes to increasing the value of your home, you may think that adding a pool to your backyard is a good investment. After all, we all remember the kid in the neighborhood that had the swimming pool and opened it up for swimming parties throughout the summer. Still, while many people enjoy having a swimming pool, there are many that don’t want the hassles of pool ownership either. Therefore, adding a swimming pool to your property isn’t necessarily a good way to boost its resale value.

Reasons to Avoid Putting in a Pool

When it comes to selling your home, having a swimming pool can be more of a liability than a help. For parents with small children, for example, a swimming pool is looked as a potential danger rather than a joy. After all, it doesn’t take much for a curious child to wander over to a pool and fall in. Therefore, you can lose a significant part of the market when you have a pool on your property.

A pool will also reduce your available market because your home will simply be too expensive for them to buy. In order to recoup your expenses, you will ask a higher price for your home. As a result, certain potential buyers will not be able to pay the additional costs or won’t be willing to pay the higher price for a home with a pool. So, you will be faced with either having to drop your price or waiting longer to find a buyer that is willing and capable of buying your home.

When Having a Swimming Pool Can be a Plus

Although having a swimming pool can be a liability, there are certain situations during which it is advantageous to have a swimming pool. For example, if you live in a neighborhood where most of the homes have a pool, failure to have a pool can significantly bring down the value of your home. Therefore, it is important for you to consider your neighborhood when determining whether or not having a swimming pool is good investment.

If you live in a neighborhood that caters more to middle-aged buyers with teenage children, having a swimming pool will also be more of a draw. After all, by the time the kids are teens, safety concerns are not as great and teenagers love the idea of having a pool to enjoy with their friends.

When all is said and done, having a pool will certainly increase the overall value of your home. At the same time, it does not have a significant return on investment. In fact, most appraisers will deduct anywhere from 40 to 60% of what you paid to install the pool when determining the value of your home. Therefore, if you want to have a pool and you plan to stay in the home for years to come, go ahead and install one. If you are planning to move in the near future, on the other hand, don’t view a pool as a good investment.

About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
www.electronicappraiser.com .

Estimating Your Home’s Value

While the best way to get an estimate of your home’s value is to consult with a professional appraiser, it is possible to get a ballpark figure on your own. By coming up with your own estimate, you can better determine if you are ready to contact an appraiser and put your home on the market. In general, there are two things to consider when trying to estimate the value of your home: How does your home compare to similar homes in the area have recently sold for and how much do you adjust to compensate for superior or inferior features of your home.

Considering Comps

When trying to develop an estimated value of your home, you will first need to compare your home to other similar homes that have sold in the area. The homes you use for comparison purposes are referred to as “comps or comparables.” It is important to note that market activity can change dramatically in just a few months’ time. Therefore, it will do you little good to compare your home to a home that sold over a year ago if there are homes that have sold recently. Rather, you should only consider those homes that have sold in the last six months or less. In actuality, however, it is best to only look back at the past three months.

If your home is in a market that is not particularly active, it may be difficult to find comps in your area. Similarly, if your home has special features that are not regularly found in homes in your area, you may not be able to find a reasonable comp to use for comparison purposes. Significant international and national events, such as war and elections, can also cause sudden changes in housing prices.

Amenities and Other Considerations

In addition to comparing your home to other similar homes in your area, there are several other factors that need to be considered when estimating the value of your home. These include:

• Age of the home
• Amenities
• Location
• Size
• Condition

In general, you should compare your home to a home that is of similar age to your home. Homes of a similar age and location typically also have similar amenities. Of course, this isn’t always the case, as your home may include other special amenities such as a pool, a bonus room, a great view, or a particularly large garage.

Ideally, you should compare your home to other homes that are in the same area as yours. If there has been no recent activity in your area, however, you might need to compare your home to other homes in neighborhoods that are similar to yours. In order to find a neighborhood similar to yours, look for one with homes that were built around the same time as yours and that are of comparable size.

The size of your home is another important consideration. The total square footage of your home, the number of rooms in your home, and even the size of your garage will all have an impact on the value of your home.

Since so many factors are involved with determining the value of a home, it can be difficult for a homeowner to develop a precise estimate of its value. Therefore, in order to get a more accurate appraisal of your home, it is best to enlist in the services of a professional appraisal service, a local real estate agent and or a on-line valuation company.


About the Author: Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.electronicappraiser.com/, which is a leading provider of on-line home appraisals and offers a nationwide personalized instant informational report about home appraisal. For more information, please visit .
www.electronicappraiser.com .

The appraisal industry has changed…..forever!

AVM’s have forever changed the way Wall Street, Lenders and Banking industry use appraisal. You may be asking yourself, what is an AVM and how does it affect the appraisal industry?

AVM is short for "Automated Valuation Model". Appraisers, Wall Street and Lending Institutions all use AVM technology in their analysis of residential property. An AVM is a residential Valuation Report that can be obtained in a matter of seconds. It is a technology driven report. The product of an automated valuation technology analysis, public record data, and computer decision logic combined to provide a logical calculated estimate of a probable selling price of a residential property. An AVM generally uses a combination of two types of evaluation, the running of a hedonic model and a repeat sales index. The results of each are weighed, analyzed and then reported as a final estimate of value based on a requested reasoning date. http://www.electronicappraiser.com/why.cfm

AVM’s have been around since the late 1990’s. For decades, mortgages have been constantly bought and sold in large groups of loans, (pools) by banks, institutional investors and Wall Street. As technology caught up with the demand, there arose a need to rapidly evaluate large groups of residential loans without appraising each property associated with the corresponding loan. This has always been an expensive process that could take several weeks to complete. AVM technology allowed the addresses associated with each loan to be fed into a computer, AVM reasoning would be applied to each property and result in a report of the then current “market” value for each property in a loan pool. The AVM would assist the institutional investor in determining their risk for that pool.

As AVM technology improved, many uses for them evolved. Not only were they being used for large pools, but also for individual loans. Fifteen years ago, a no closing-cost loan was virtually unheard of, with AVM’s they became commonplace. Loans were just too expensive to process, one of the largest costs being that of a traditional appraisal. AVMs allowed lenders to quickly evaluate a property and in many cases determine if a full appraisal were necessary to fund a loan, and could be done inexpensively. This was especially true in “portfolio” loans, loans in which a lender did not intend to sell.

AVM’s give a non-partial analysis, appraisers are constantly being persuaded by real estate brokers and loan agents to hit a certain value. There is no bargaining with an AVM, the computer determines a non-biased value, thus greatly reducing the risk of fraud.

AVM’s are attractive in price, significantly lower than a traditional appraisal. From $25-$50 for individual reports, to a few dollars each if bought in bulk.

AVM’s have not evolved to the point where they are able to replace the appraiser, nor are they suited for every use. For example, they are relatively new to the market in originating first mortgage loans and in a rapidly changing real estate market (up or down), local knowledge is a must. The acceptance and uses of AVMs is constantly expanding, and as it expands the need for a traditional appraisals will continue to diminish.

About the Author: Greg Sullivan is the President of www.electronicappraiser.com, a leading provider of home appraisals offering a nationwide personalized instant home appraisal service. For more information, please visit www.electronicappraiser.com.